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The Latest Breaking News from the Strait of Hormuz

Oil Price Today (July 22): Crude oil crosses $90, hits 2-month high as US strikes enter 11th day. $120 possible, say experts

Brent crude prices crossed the mark of $92 a barrel, rising to the levels last seen in early-June. West Texas Intermediate (WTI), the US crude, is now trading near the mark of $85 a barrel, climbing for the fourth straight session.

The Economic Times

Fresh US-Iran strikes overshadow Pakistan's bid to revive collapsed ceasefire

Tensions between the United States and Iran intensified over the Strait of Hormuz. Pakistan's diplomatic efforts to revive a ceasefire deal faced significant challenges. U.S. President Donald Trump expressed no interest in immediate talks with Iran. Iran-backed rebels opened a new front in the Red Sea, impacting oil supplies. Both…

The Economic Times

Threats to Global Crude Supplies Push Prices Higher

August WTI crude oil (CLQ26 ) on Tuesday closed up +1.68 (+2.02%), and August RBOB gasoline (RBQ26 ) closed up +0.0169 (+0.50%). Crude oil and gasoline prices settled higher on Tuesday, with crude climbing to a 5-week high. Threats to global oil supplies are boosting crude oil prices as the...

Barchart

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Not just for America’s sake, Donald Trump must stop the bombing

THE INDEPENDENT VIEW: Editorial: With the nightly strikes on Iran now in double figures – and with Tehran retaliating far beyond the closure of the Strait of Hormuz – the US should end its escalating cycle of violence in the Middle East and negotiate a way out

The Independent UK

Asia's energy test may hinge on regional cooperation

The past four months have demonstrated just how volatile oil markets can be. In March, Brent crude climbed above US$100 (3,363 baht) a barrel for the first time in four years, reaching $119 on March 9 -- its highest level since the 2022 energy crisis -- as Iran's closure of…

Bangkok Post

US, Iran intensify attacks as diplomacy struggles to revive truce

Diplomatic efforts to revive the collapsed US-Iran interim agreement are gathering pace. Shipping disruptions are deepening as the Strait of Hormuz remains largely blocked. The United States carried out fresh airstrikes on Iranian military targets. Iran attacked a tanker in the strait, claiming responsibility for other strikes. The conflict has…

The Economic Times

Gas Is Back at $4, but a Top Commodity Analyst Says the Real Pain Is in Diesel

The national average price of gasoline hit $4 a gallon on Monday, up 15% in a week, as conflict in the Strait of Hormuz spread to Saudi Arabia. But one commodity analyst says drivers are looking at the wrong number.

Benzinga

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Crude Oil Prices Rally on Global Supply Risks

August WTI crude oil (CLQ26 ) today is up +1.75 (+2.10%), and August RBOB gasoline (RBQ26 ) is up +0.0017 (+0.05%). Crude oil and gasoline prices are pushing higher today, with crude climbing to a 5-week high. The threat to global oil supplies is boosting crude oil prices today as...

Barchart

The Strait Of Hormuz Is Caught In The Crossfire Again. Traffic Has Plummeted By Two Thirds

Tankers are increasingly avoiding the Strait of Hormuz since hostilities between the U.S. and Iran resumed, according to new data.

International Business Times

The Latest: As the bombing resumes with no exit in sight, Republicans face more trouble

The U.S. and Iran are back to bombing every day in a bid to control the Strait of Hormuz

The Independent UK

Analysts Predicted $200 Oil When the U.S. Went to War With Iran. Five Months Later, It Still Hasn't Happened

When the conflict intensified at the end of February, many analysts warned that Brent crude could surge to between $150 and $200 per barrel if Iran succeeded in disrupting traffic through the Strait of Hormuz.

International Business Times

Iran calls for ‘full-scale war’ but behind the scenes there’s a peace proposal that might reopen the Strait of Hormuz—if Trump can stomach it

Everything you need to know before you reach the office this morning.

Fortune

Money talks: As the Iran war continues, Hormuz tolls gain traction

With missiles replacing merchant ships in the Strait of Hormuz, activity in the world's most critical energy corridor is grinding to a halt—and a controversial proposal to charge for safe passage is gaining traction.

Fortune

Shipping transits slow to a trickle as Strait of Hormuz faces “worst-case scenario”

From shipping lane to battleground: Hormuz crisis forces industry rethink.

Fortune

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The Independent UK

US strikes Iran for 10th consecutive night as Tehran strikes tanker in the Strait of Hormuz

Iran has attacked a tanker in the Strait of Hormuz, forcing its crew to abandon the ship

Benzinga

Bill O'Reilly Says Trump Is ‘Almost Trapped’ in Iran War as Americans Refuse To Accept Casualties and Hormuz Disruption Drives Gas Above $4

Author and podcaster Bill O’Reilly said on Monday that President Donald Trump has narrowed his options in the war with Iran as casualties rise and disrupted shipping through the Strait of Hormuz drives up oil and gasoline prices.

The Economic Times

Indian Oil Corp cancels Iraq oil lifting amid Hormuz attacks, sources say

Indian Oil Corp cancelled lifting Iraqi oil from Basrah Oil Terminal. Increased risks and attacks in the Strait of Hormuz prompted this decision. Mangalore Refinery and Petrochemicals Ltd also cancelled similar oil lifting plans. India advised shipowners against deploying seafarers through the Strait of Hormuz. Vessels must remain vigilant about…

The Economic Times

Oil prices to hit $120 soon? Goldman Sachs makes big prediction as Hormuz concerns loom

Goldman Sachs has warned Brent crude could spike to $120 per barrel if disruptions through the Strait of Hormuz persist, though its base case assumes easing Middle East tensions and prices averaging $80 in Q4.

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The Economic Times

$120 crude oil scare is back & India has plenty at stake

Goldman Sachs has warned Brent crude could rise above $120 a barrel if disruptions in the Strait of Hormuz persist. For India, which imports most of its crude oil, a sustained oil price rally could increase the import bill, weaken the rupee, fuel inflation, widen the current account deficit and…

The Economic Times

US and Iran dig in over the Strait of Hormuz, showing the limits of intensifying airstrikes

The United States and Iran are engaged in daily bombings over the Strait of Hormuz. President Trump's strategy of escalating airstrikes faces limitations in influencing Tehran. Diplomacy remains an option, but Iran has refused to yield control of the shipping corridor. Intensifying attacks have collapsed a ceasefire deal and increased…

The Economic Times

Strait of Hormuz vessel crossings extend slide on fresh US-Iran attacks

Vessel crossings through the Strait of Hormuz decreased significantly this week. This drop occurred after a fresh exchange of attacks between the United States and Iran. Yemen's Houthis also announced a naval blockade on Saudi Arabia, threatening global energy supplies. A tanker reported being struck by an unknown projectile in…

The Economic Times

Tanker crew abandons vessel after reported projectile strike in Strait of Hormuz, UKMTO says

A tanker in the Strait of Hormuz reported being struck by an unknown projectile. Its crew abandoned the vessel and boarded a lifeboat, according to UKMTO. Iran's Revolutionary Guards stated two oil tankers caught fire after explosions. Rescue teams are removing crews from the affected area. Tensions have escalated in…

The Economic Times

US military completes its latest strikes on Iran, marking the 10th successive night of attacks

A tanker was attacked early Tuesday in the Strait of Hormuz off Oman. Two other ships faced assaults in the strait over the last day. The United States military conducted its tenth consecutive night of strikes on Iran. Nearly one hundred US service members have been injured since early July.…

The Times of India

'They will pay many times over': Donald Trump as US carries out 10th night of Iran strikes

United States forces conducted tenth night of strikes against Iran. These operations aim to reopen the Strait of Hormuz after recent attacks. Iran also targeted US allies Kuwait, Jordan, and Bahrain with missile barrages. Diplomatic efforts continue while the interim ceasefire agreement has collapsed. Global energy supplies face fresh concerns…

The Times of India

Mediators propose 10-day truce to revive interim deal: Iran official

Iran received a 10-day ceasefire proposal from mediators to end the ongoing conflict. US strikes on Iranian cities continued for a ninth consecutive night. Iran's Revolutionary Guards attacked US military assets across the region. Two oil tankers exploded after attempting to transit the Strait of Hormuz. A vessel was struck…

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